PART IV, LINE 2C |
REBATE COMPUTATIONS WERE PERFORMED IN JUNE AND JULY 2022 TIME FRAME FOR ALL SETON HALL UNIVERSITY BOND ISSUES LISTED IN PART I, WITH THE EXCEPTION OF BOND 2014 SERIES B, AND BOND 2016 SERIES B. THE 2014 B AND 2016 B BONDS ARE PART OF POOLED FINANCINGS AND THE REBATE CALCULATIONS ARE PERFORMED BY THE ISSUER. THERE IS NO REBATE LIABILITY RELATED TO ANY OF THE UNIVERSITY'S ISSUES AS OF JUNE 30, 2022. PART I, COLUMN(F) DESCRIPTION OF PURPOSE 1. SETON HALL UNIVERSITY ISSUE, 2020 SERIES C (CUSIP 6460667B0), WAS ISSUED BY THE NJEFA TO FUND CAPITAL IMPROVEMENTS ON THE UNIVERSITY'S CAMPUS. 2. SETON HALL UNIVERSITY ISSUE, 2011 SERIES A, (CUSIP NUMBER 646065U83)WAS ISSUED BY THE NJEFA TO CURRENTLY REFUND SETON HALL UNIVERSITY'S 1999 REFUNDING, 2001 SERIES A, 2001 SERIES B, AND 2001 SERIES G BOND ISSUES. 3. THE NJEFA ISSUED CIF BONDS, 2014 SERIES B, AND 2014 SERIES D, WERE ISSUED PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. THE UNIVERSITY'S PORTION OF THE 2014 B WAS $2,192,165 OF WHICH $1,165,170 WAS GRANT AND $1,014,830 WAS DEBT REPAYABLE OVER 20 YEARS. THE UNIVERSITY'S SHARE OF 2014 D WAS $2,724,951 WITH $1,226,845 BEING DEBT AND THE REMAINDER BEING A GRANT. THE UNIVERSITY PAID OFF ITS 2014 SERIES D DEBT DURING IT'S FISCAL YEAR ENDED JUNE 30, 2021. 4. SETON HALL UNIVERSITY ISSUE, 2017 SERIES D (CUSIP 646066V64), WAS ISSUED BY THE NJEFA TO REFUND THE UNIVERSITY'S 2008 SERIES D BONDS AND TO PAY $4,872,000 FOR THE TERMINATION OF SWAP AGREEMENTS. 5. SETON HALL UNIVERSITY ISSUE, 2013 SERIES D, (CUSIP 6460656D9) WAS ISSUED BY THE NJEFA TO CURRENTLY REFUND SETON HALL UNIVERSITY'S 2009 C BONDS SOLD DIRECTLY TO CAPITAL ONE, N.A., FINANCE A PORTION OF THE COST OF TERMINATING THE UNIVERSITY'S INTEREST RATE SWAP AGREEMENT WITH CITIBANK, N.A. THAT HEDGED INTEREST RATE EXPOSURE RELATED TO THE 2009 C BONDS, AND TO FINANCE CAPITAL IMPROVEMENTS. 6. SETON HALL UNIVERSITY ISSUE, 2015 C (CUSIP 646066MC1) WAS ISSUED BY THE NJEFA TO ADVANCE REFUND SETON HALL UNIVERSITY'S 2008 SERIES E BONDS. 7. SETON HALL UNIVERSITY ISSUE, 2016 SERIES C (CUSIP 646066B66), WAS ISSUED BY THE NJEFA TO FUND CAPITAL IMPROVEMENTS ON THE UNIVERSITY'S CAMPUS. 8. THE NJEFA ISSUED CIF BONDS, 2016 SERIES A, REFUNDED CIF BONDS PREVIOUSLY ISSUED. PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. THE PRIVATELY PLACED BONDS WERE ALLOCATED TO FOURTEEN PRIVATE INSTITUTIONS IN NEW JERSEY. THE UNIVERSITY'S SHARE OF THE PROCEEDS WAS $2,326,537. 9. THE NJEFA ISSUED CIF BONDS, 2016 SERIES B, WERE ISSUED PURSUANT TO A PROGRAM OF THE STATE OF NEW JERSEY TO FINANCE CAPITAL IMPROVEMENTS AT INSTITUTIONS OF HIGHER EDUCATION. THE BONDS WERE ALLOCATED TO TWELVE PRIVATE INSTITUTIONS IN NEW JERSEY. THE UNIVERSITY'S SHARE AFTER ISSUANCE COSTS, WAS $1,500,000 OF WHICH $766,748 WAS A GRANT AND $733,252 WAS DEBT REPAYABLE OVER TWENTY YEARS. |